AnneTrader
Long

MMC gaps up on volume

NYSE:MMC   MARSH & MCLENNAN COS INC
When looking at the weekly chart of MMC             the uptrend looks very linear. Since trading above the 200ma price only once returned to retest it in October 2011. Since then it has only broken the 50ma twice - more recently with the low of the flag in October 2014.

The figure $50 acted as a reasonable support - there was a small fake-out below this and the 200ma on the daily chart . On the 31st October price gapped up on higher volume and has continued to climb since then. If the gap doesn't get filled this stock could continue it's drive up. But be aware that there is possible resistance at $57.30 from the 2002             high. If price clears this then the next resistance isn't until the 2000 high of $67.84.
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